Accel Leads $50 Million Round In Electronic Payments Company YapStone

YapStone , a company that develops an electronic payments as a service technology for property management and other vertical markets, has raised $50 million in new funding led by Accel Partners with Meritech Capital Partners participating. YapStone develops RentPayment , end-to-end, payment services platform for property managers to easily accept credit cards and e-Checks for rent and other recurring payments. It essentially aims to disrupt the act of mailing in a check monthly for renters and landlords. The technology is currently serving thousands of property management companies representing over 3 million apartment units.